He's Puzzled?

[flatsixes]

Generally, I like Ben Bernanke. I often don't agree with him policy-wise, but the way I figure it, the only nice guy with a beard that's got a tougher job than ol' Ben is Santa Claus, and the latter only has to do the impossible one night a year.

But this story makes me wonder whether The Bearded One may not have spent too long at the punch bowl.

Bernanke puzzled by weak consumer spending
WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke said he's surprised by how cautious consumers have been in the two years since the recession officially ended. But the Fed chief offered no hints of any steps the Fed would take to boost the weak economy.

Bernanke said Thursday that a number of factors are keeping consumers from spending more, including high unemployment, a temporary spike in energy prices, falling home prices and high debt burdens.
"Even taking into account the many financial pressures they face, households seem exceptionally cautious," Bernanke said, according to a transcript of a speech his is giving in Minneapolis.

I mean really! Besides "high unemployment, high energy (and food) prices, and high debt burdens" why aren't more Americans blowing the next month's mortgage payment on a cool new TV?

It's puzzling all right. But only at the top.

[vienna]

It's puzzling all right. But only at the top.

Gee, it maust be great to have a high paying, quasi-governmental job...

This kind of brings to mind a quote attributed to Ronald Reagan: When, as President, leaving a government function, a reporter shouted out the question "How do you feel about the unemployment problem", Reagan answered back, "What problem? All my friends are working." ...

[flatsixes]

Originally Posted by vienna

Gee, it maust be great to have a high paying, quasi-governmental job...

This kind of brings to mind a quote attributed to Ronald Reagan: When, as President, leaving a government function, a reporter shouted out the question "How do you feel about the unemployment problem", Reagan answered back, "What problem? All my friends are working." ...

Well, I can't say that I ever heard that Ronald Reagan "quote" before. It doesn't at all sound like something that he (or any other president or politician) would say aloud, even in jest. Probably baloney (the quote, not the sentiment of your comment).

[Platapus]

Yeah, I would like to see a citation for that "quote' Reagan was clueless about a lot of stuff, but he was skilled in public communication. I doubt he would have ever said that on mic.

[vienna]

As I said above, "attributed" quote; I do recall seeing a bit of a film clip at the time showing Reagan making the comment. He was answering the question in an obviously joking fashion and I do not think with any real ill intent. I also recall a small bit of fallout that was handled by presidential spokespersons in the manner of "What the President meant to say..." Quite a few Reagan utterances were given the "What the President meant to say..." reinterpretataion. A friend of mine who was of the further left leaning ilk also made note of the quote to me about a day after Reagan spoke it. I did a quick Google search and found someone else who used the quote, but didn't give chapter and verse. I will check later to see if I can find a proper attribution; I'm rather curious about it myslef, now...

[Tchocky]

Google only gives one answer - http://www.google.com/search?num=100...0l0l0l0l0ll0l0